[firemed]

It changed so fast that now people can't pay for what they bought. Crime is very high from people just trying to put food on the table and pay the bills. Its very sad. The weak job market and slumping wages in Fort Myers are triggering a worrisome drop-off in consumer spending, which nationally accounts for 70 percent of the economy.
Economists increasingly believe the housing downturn and related problems in mortgage lending will slow the U.S. economy. Barely a month ago, most economists viewed a recession as a distant possibility. Now they think there is more than a 1-in-3 chance that one is on the way -- or even has already begun in cities like Fort Myers/Cape Coral. washingtonpost.com - nation, world, technology and Washington area news and headlines
The News-Press, news-press.com, Real Estate, Vacancy rampant in Lee County homes (http://www.news-press.com/apps/pbcs.dll/article?AID=/20070916/RE/70915039/1075 - broken link)

[MrTudo]

While places like Fla, Calif, Colorado, Nevada appear to be the worst hit, this is a countrywide crisis and it's a long long way from ending. They will lower interest rates this week and the pitch will come from the whitehouse to GO REFINANCE NOW.

It's a small bandaid for a crisis that needs major surgery.

Anyone see how "respected" the dollar is around the world these days?


It's hanging by a thread.

[firemed]

Originally Posted by MrTudo

While places like Fla, Calif, Colorado, Nevada appear to be the worst hit, this is a countrywide crisis and it's a long long way from ending. They will lower interest rates this week and the pitch will come from the whitehouse to GO REFINANCE NOW.

It's a small bandaid for a crisis that needs major surgery.

Anyone see how "respected" the dollar is around the world these days?


It's hanging by a thread.

Great Point! The dollar is not doing very good,

[hiknapster]

I am glad to see the two of you. I have a question.

Bernake says that the devalued dollar will be good for the trade deficit. It makes sense. The recalls from China can't hurt, either.

Am I being ridiculously optimistic?

[MrTudo]

Nice to see you too Hiknapster

We do not nor can we produce much of anything that's in demand by anyone else in the world.

The new mantra is Go East Young Man.

While this country implodes under it's military complex and socialism ( I believe Ike predicted this? ), countries like China are trying to go the opposite direction and it's workiing.

Freedom works. Unfortunately and take a look at the thread with the public school teacher, socialism doesn't work.

We cannot have it both ways. Unfortunately, most people cannot even define the concept here anymore. What a tragedy.

[hiknapster]

That's what I was afraid of.

[INeedAChange]

the theory is that China will never dump it's t-bills because she would just end up screwing herself by doing that, so it really doesn't matter for the US how low the dollar drops

[wacahootaman]

Here is the real estate market psychology in South Florida just 2 years ago.

The New York Times > Business > Trading Places: Real Estate Instead of Dot-Coms

[THX 1138]

Results of a service job based economy.

[MrTudo]

Originally Posted by INeedAChange

the theory is that China will never dump it's t-bills because she would just end up screwing herself by doing that, so it really doesn't matter for the US how low the dollar drops

Oh really? The Chinese are and have been quite successful in developing worldwide business. The dollar is becoming a mere diversification and what one generally does with a loser is dumps it when it appears the better bet is elsewhere.

The front page of atimes.com is about how the dollar has no muscle to flex anymore.

I can tell you that if you are ever in Asia, you will find it very difficult to find merchants who will accept the dollar for products. Just a few years ago the Euro was laughed at all over Asia. Now the Euro and Gold is the preferred diversification while the dollar is merely tolerated.

While it's true ( and something to be proud about) that the US was a beacon of freedom, productivity and fairness thruout the world, this is no longer the case.

Even healthcare is starting to look 2nd rate here. I had open heart surgery 2 1/2 years ago in Punta Gorda. If and when I am faced with that type of major surgery again , I can tell you that I will seek treatment elsewhere rather than here ( for a number of reasons)

A major tragedy .